When discussing recovery equipment, winches are oftentimes considered king. But in my opinion, you only need a winch if you're an absolute 4x4 nutter, or live and work in an environment where you'll get stuck daily. Winches are pretty expensive, and they can be complicated. That being said, I prefer having a hi lift jack in my trunk, as it's more affordable and more reliable due to the fact that it only has mechanical components that don't fail. Additionally, it's a versatile piece of equipment that you can also use as a winch, split logs and clamp together wood.
Simply put, you can use it for various tasks, which can save you a lot of valuable storage space in your vehicle when going on a long trip. However, a hi lift jack can also be very dangerous if not handled correctly. I've heard many horror stories of teeth and other body parts popping off, because the operator wasn't aware just how much force is on the hi lift jack handle as it's being released. That being said, reading the user manual the jack comes with is an absolute must if you want to keep your body whole while operating it.
For that reason, using hi lift jacks appropriately and safely is of utmost importance. The jack should only be used when stuck in soft ground or ruts where you need to put something under the wheels to clear the leaf springs or diff casing. Unless your vehicles feature approved jack points that you can use to place the jack safely, you shouldn't be using it to change a flat tyre, for instance. Never rely on the iron that's welded to the chassis, as it may be good enough to lift the vehicle, but it definitely isn't stable enough to change a wheel.
Additionally, when using the jack on a soft ground, you should always use a base to spread the weight evenly. You should always practice how to properly use a jack before you get stuck. Perform some dry runs to make yourself familiar with how it works in a safe and controlled environment. Once you get a feel of handle's tension as its being released, you'll have an easier time using it when out in the middle of nowhere. Learning how to use a jack can be one of the best skills you can ever learn - you'll never be stuck, and you'll be able to service and maintain your own vehicle much easier.